Building Details

Year Built 1900

Listing Agency: Keller Williams Real Estate-Montgomeryville k***@kw.com Show Phone

Listed By: Erin M. Thompson · License #AB068517 Show Phone

Source: Cummingsrealtors

Added: Oct 17 Changed: Oct 21 Last Checked: Oct 20 at 11:11PM

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Investment Insights

Based on property information with market context.

This 3,879-square-foot triplex contains three apartments with a 5-bedroom, 3-bedroom, and 2-bedroom layout. The 5-bedroom unit is vacant and has fresh paint and new carpeting; the other two apartments are occupied. A separate garage is also part of the property, and tenants have access to a shared laundry room.

Property improvements include a roof and driveway completed in 2023, followed by a water heater replacement in 2024. Leases are available upon request.

Key Highlights

• 3,879‑square‑foot triplex with three apartments
• Unit mix includes 5 bedrooms, 3 bedrooms, and 2 bedrooms
• One apartment is vacant; the other two apartments are occupied

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,517

Cap Rate

7.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$850,340 $850.3K

Cap Rate 7%

$607,386 $607.4K

Cap Rate 9%

$472,411 $472.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,879 SF

Gross rent

$69.8K $18.00/SF

− Vacancy

−$9.1K −$2.34/SF

EGI

$60.7K $15.66/SF

− OpEx

−$18.2K −$4.70/SF

NOI

$42.5K $10.96/SF

Area

Delaware County, PA

Vacancy

13.01%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$850,340

Cap Rate 7%

$607,386

Cap Rate 9%

$472,411

Alternative Uses

Best Use

Multifamily LT 5

$607.4K

$531.5K – $708.6K (±1% cap)

NOI $42,517 @ 7.0% cap · market cap 7.39%

Second Best

Apartment 5plus

$555.5K

$486.1K – $648.1K (±1% cap)

NOI $38,885 @ 7.0% cap · market cap 6.76%

Theoretical Best

Office A

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,325 @ 7.0% cap · market cap 14.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

797

Businesses Nearby

Explore this area Business Placement

Demographics for 19078, PA

11,453

Population

4,969

Households

2.3

Avg Household Size

41

Median Age

30%

College-Educated

96%

High-School Grad

2.0 sq mi

ZIP Area

5,727

Density / Sq Mi

$93,456

Median Household Income

$53,377

Median Earnings

$1,318

Median Rent

$244,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three apartments share a common laundry room, alongside recent roof, driveway, and water-heater work.

Where is this triplex located?

The property is located at 245 E CHESTER PIKE Ridley Park, PA.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: 3,879‑square‑foot triplex with three apartments; Unit mix includes 5 bedrooms, 3 bedrooms, and 2 bedrooms; One apartment is vacant; the other two apartments are occupied